How Much Is the BPI Cash Loan Amount Open for Borrowing? Check It Here
BPI CASH LOAN AMOUNT – You can check here the minimum and maximum loanable amounts under the Personal Loan offer of the Bank of the Philippine Islands.
In the Philippines, there are some reputable banks that are already considered giants in the banking field. One of these is the Bank of the Philippine Islands or more popularly called BPI.
BPI is operating in the country for decades already. It has several branches across the nation and it has several banking products including savings and checking account options, credit cards, loans, investment products, and many other financial services.
Many Filipinos are BPI clients. There are even a lot of overseas Filipino workers (OFWs) who are clients of the bank for decades now and have trusted the bank with their savings and remittances for really a while already.
With regards to the loan offers of the Bank of the Philippine Islands, aside from the BPI Housing Loan for renovation, the reputable banking entity also offers the Personal Loan, a multi-purpose cash loan offer.
Under the BPI cash loan offer, you may choose to apply for the loan to finance a personal purchase, get your car repaired, pay for your child’s tuition fee, host an event, etc. This loan offer is open for both salaried and non-salaried individual.
You may be wondering about the BPI cash loan amount that you may borrow under the offer. The loanable amounts vary depending if you are a seafarer or not. Here is the range of the loanable amounts for most of the clients:
- Minimum Loanable Amount — Php 20,000.00
- Maximum Loanable Amount — Php 3 million
According to the bank, you may borrow up to thrice of your gross monthly income under the offer. Meanwhile, if you are a seafarer, you may borrow as much as Php 300,000 subject to the approval of the bank.
With regards to the loan term, it is payable from one (1) year or 12 monthly amortizations up to three (3) years or 36 monthly amortizations. Both BPI-account holders and non-BPI account holders may apply for the loan offer.
Who are qualified to apply for the loan offer? Here are the qualifications listed by the bank:
- a Filipino citizen
- 21 years old and above upon the loan application filing
- 60 years and below upon the date of the loan maturity
- proof of income:
- the loan applicant must have a minimum gross income of P20,000 per month
Under the offer, aside from the range of the BPI cash loan amount you may borrow, the bank charges a one-time processing fee of Php 1,500 which will be deducted from the loan proceeds.
To apply for the loan offer, there are BPI cash loan requirements for application.